GROWTH REWARDS API
Redemption Thresholds
This new feature allows you to set thresholds on redemption logic, meaning account holders need to reach these thresholds before they can redeem their rewards.
Jun 22, 2023
Courtney May
Customization is imperative to the long term health of account holder retention
Redemption thresholds add another layer of personal touch to the user experience with fractional stock rewards.
This new feature allows you to set thresholds on redemption logic, meaning account holders need to reach these thresholds before they can redeem their rewards.
Boost interchange revenue
The addition of thresholds will enable you to control the reward value they need to reach your interchange revenue goals.
Thresholds also help engage digitally with account holders by regulating their spending and cash flow through delaying the reward redemptions, which increases engagement and transaction volume.
Within the threshold, you can determine the following values:
Total threshold value ($)
Designated threshold ticker symbol
If the threshold is active or non-active.
An example of how this works is if you want to make users reach a certain KPI before paying out their rewards, you can set an active threshold, which ensures that users can only redeem their rewards once the KPI is reached.
Enhance engagement by catering your rewards system to best fit your user’s needs
In the future, we expect to see features like adding time boxes for when thresholds are live, setting up a system that automatically chooses the best threshold for the customer, and thresholds on more than just reward value and frequency.
